Root Q3 net loss jumps by 56% to $133mn as ex-cat AY loss ratio jumps 11 points to 91%
  • X
  • LinkedIn
  • Show more sharing options
  • Print
  • X
  • LinkedIn
  • Free Trial
  • Log in

Root Q3 net loss jumps by 56% to $133mn as ex-cat AY loss ratio jumps 11 points to 91%

Giovanna Bellotti Azevedo, 
James Thaler
November 10, 2021
  • X
  • LinkedIn
  • Show more sharing options
  • Print
  • X
  • LinkedIn
Root-blurred-app.gif

Auto InsurTech Root’s net loss widened by 56% to $133mn in the third quarter, from $85.2mn last year, as its direct loss ratio climbed to 92.7% from 89.8% a year earlier.

Root said the higher loss figure was driven by a rise in industry-wide claims frequency and severity trends, as well as inflationary pressures.

Request a free trial:

Fuel a smarter strategy with our actionable market intelligence

    • Gain a competitive edge and accelerate decision-making
    • Be empowered by insights that transform confusion to clarity
    • Uncover growth opportunities and prepare for potential threats
Request a free trial Already a subscriber? Log in now

Topics

NewsRootInsurTechPersonal auto
Giovanna azevedo headshot new.jpg
Giovanna Bellotti Azevedo
Editor
JT
James Thaler
Gift this article